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Question
Rankin Food Products produces cane sugar syrup in bulk quantities, and uses process costing. There are three processing departments-Mixing, Refining, and Packaging. Using process costing analysis, Rankin determined that the cost of the units completed and transferred out of the Mixing Department during the month was $11,000. Which of the following is the correct journal entry to record the cost of the units completed and transferred out to the next department?
A) Debit $11,000 to Finished goods inventory, credit $11,000 to Work in process - Mixing
B) Debit $11,000 to Work in process Refining, credit $11,000 to Work in process - Mixing
C) Debit $11,000 to Work in process Refining, credit $11,000 to Materials inventory
D) Debit $11,000 to Work in process Mixing, credit $11,000 to Work in process - Refining
Answer
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